Latest news with #AED123
Filipino Times
02-05-2025
- General
- Filipino Times
Abu Dhabi logs over 1.7M volunteer hours in 2024, up 95% from last year
Whether it's helping the elderly, supporting health campaigns, cleaning up the environment, or mentoring the youth, more residents in Abu Dhabi are finding time to give back—and in record numbers. In 2024, community members across Abu Dhabi contributed a massive 1.7 million volunteer hours, marking a 95% increase compared to the previous year. From students to professionals, people from all walks of life are stepping forward to help build a more compassionate and connected society. With a total of 1,709,177 volunteer hours, its economic value also reached AED123 million in 2024, a 98% increase from 2023. Each volunteer hour is valued at AED72, a rate introduced last year—the first of its kind in the UAE. According to the Department of Community Development – Abu Dhabi (DCD), this sharp rise shows not just a growing awareness about the value of volunteering, but also reflects the impact of recent policies designed to make volunteering more accessible, flexible, and rewarding. 'Through launching various initiatives, programmes, and activities, we continue to strengthen the culture of giving and social responsibility, leading to a 95 per cent increase in volunteer hours within just one year,' said His Excellency Mohamed Helal Al Balooshi, Executive Director of the Community Engagement and Sports Sector at DCD. Volunteering in Abu Dhabi now covers a wide range of causes—from healthcare, education, and sports to environmental efforts, social empowerment, and elderly care. Making it easier to contribute, Abu Dhabi's updated volunteering policy simplified the process of signing up, allowed for more flexible roles, and ensured better transparency. As a result, over 28,000 new volunteers registered last year, with 2,527 opportunities made available by 91 different organizations.
Hi Dubai
22-04-2025
- Business
- Hi Dubai
Emirates Islamic Posts Record AED1 Billion Quarterly Profit During Q1 2025
Emirates Islamic has reported a record quarterly profit of over AED1 billion for the first time, marking a 24% year-on-year increase in Q1 2025. This milestone underscores the bank's strong financial momentum amid continued positive business sentiment in the UAE. The bank's total income rose 8% to AED1.45 billion, driven by growth in both funded and non-funded income streams. Operating profit also climbed 5% compared to the same period last year, while the net profit margin remained healthy at 3.85%. Supporting this growth, Emirates Islamic saw its total assets increase by 11% to AED123 billion. Customer financing rose 7% to AED75 billion, while customer deposits grew by 8%, reaching AED83 billion. The solid results reflect the bank's effective strategy and its ability to capitalise on a stable economic environment. News Source: Emirates News Agency
Zawya
22-04-2025
- Business
- Zawya
Emirates Islamic quarterly profit surpasses $272mln milestone
DUBAI - Emirates Islamic's quarterly profit surpassed the AED1 billion milestone for the first time, growing 24 percent year-on-year compared to the same period last year. The strong performance was supported by continued positive business sentiment in the UAE, which drove both funded and non-funded income higher. Total income rose 8 percent year-on-year to AED1.45 billion in Q1 2025. Operating profit increased by 5 percent compared to Q1 2024, while the net profit margin remained robust at 3.85 percent. Total assets climbed 11 percent to AED123 billion during the first quarter. Customer financing grew by 7 percent to AED75 billion, and customer deposits rose by 8 percent to reach AED83 billion. RM
